Selling Number Plates - A Guide
Posted on April 8, 2008
Filed Under Automotive |
Anyone who has sold (or tried to sell) a number plate will know that you have are 3 main options when selling a number plate. You can either
- Sell ‘on commission’ through a dealer or
- Sell directly to a dealer or
- Sell independently
Selling a number plate on commission:
Usually, there are no advertising fees when you sell through a dealer. Dealers will charge a commission fee on selling your number plate. This can be up to 60% of the advertised retail price. For instance, when a number plate is for advertised sale at around £1000, up to £600 could be dealer commission fees. For higher priced number plates, fees may come down to around 12%, which will still add up to £1000’s.
Sometimes dealers charge a fee for a ‘sponsored listing’ to make sure your number plate appears at the top of the search list for selected word(s).
Selling a number plate to a dealer:
Number plates do not usually sell quickly. There are of course some exceptions. If you need to sell your number plate quickly, you can sometimes sell direct to a dealer. Often the higher value number plates can be sold this way. However, be prepared to accept a lower price if you sell this way.
Selling a number plate independently:
Selling a number plate privately can be difficult and also expensive. A single advertisement in a national newspaper or appropriate magazine can cost as much as £50.
Another option is to attempt to sell on ebay. Searching is tedious and you are relying on the right person finding it in the few days it’s listed. You will need to keep re-listing your number plate every few days until you succeed in selling.
Alternatively, you can sell your number plate online There are no commission fees. Potential buyers can search easily, and there’s no need to re-list. Number plates can be advertised for a simple monthly fee. The average dealer commission fee would pay for around 15 years of advertising on The Plate Market.
As the site is so flexible, http://www.theplatemarket.com appeals to private individuals and dealers alike.
Kiran John specialises in the private sale of personalised registration numbers in the UK.
Tags: private registrations, registration numbers, sell number plate
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